Conversation

SBF
@SBF_FTX
Replying to
@SBF_FTX
12) There's another type too -- great tokenomics but everything else is meh. Sometimes we buy, but with less conviction. But when we _do_ have conviction: we will sometimes fight like hell for the projects we really believe in.
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SBF
@SBF_FTX
13) So what happens when things crash? IDK for marginal investments. But for the most exciting ones: we don't panic sell. We buy, from panic sellers. Sometime we buy a lot.
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SBF
@SBF_FTX
14) We: --provide liquidity --help with listings --give lots of advice --provide buy-side support --reach out to potential partners --pinch hit when needed And whatever else is useful.
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SBF
@SBF_FTX
15) There are some things we can't do: --we can't build for the team --we can't stop people from selling sometimes those happen, even in exciting projects, and things are bad. That sucks. It is what it is.
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SBF
@SBF_FTX
16) We also can't control macro: trump got COVID, stimulus was canceled, and DeFi bubble burst. So SRM, and FTT, and others, went down. But we're still there, and when things are good, they go up. Like today.
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SBF
@SBF_FTX
17) And we also feel some weak sense of duty towards partners, independent of anything else. One was in a bad position recently. We talked through it, and adjusted our lockup, and did what we could.
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SBF
@SBF_FTX
18) Another thing worth mentioning: We try to find partnerships. We look for places where a Serum integration would be mutually beneficial, or other ways to work together. In the end our goal isn't just buy low-sell high. If possible, it's to leave both sides better off.
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SBF
@SBF_FTX
19) What are examples? HNT: cool project, huge upside, good partial progress, good price. But -- less certain on tokenomics and community. AVAX: legit chain, has a chance to get huge. SUSHI: high token revenue / market cap, building cool stuff. But, terrible sentiment.
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SBF
@SBF_FTX
20) And many more: ALPHA, TOMO, UBXT, CREAM, COMP, LEND, BAL, SXP, SUSHI, BTMX, BNB, HT, OKB, LEO... So should you go buy these? IDK! Maybe not. But why not, if we did? THERE ARE REALLY GOOD REASONS NOT TO.
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Master of the Flying Guillotine
@wayward_1ne
Replying to
@SBF_FTX
and
@SBF_Alameda
BNB, OKB, HT, BTMX, LEO -Interesing I could not be more bearish on some of those CEX tokens for certain reasons i.e loss of market share to DEXs + token economics uncertainty (e.g company led & initiated burning rounds for BNB). Would you mind elaborating the CEX centric longs?
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